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Article: Premium volume rises in France; Rate competition drives decrease for large risks.(International News)
- Article from:
- Business Insurance
- Article date:
- February 19, 2007
- Author:
CopyrightCOPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: RICK MITCHELL
PARIS-Growth in French commercial insurance premiums lagged in 2006 because of tough rate competition, according to the French insurers' association.
Premium volumes for large enterprise risks-particularly industrial risks-fell 2.5% in 2006 compared with 2005. This was primarily caused by intense rate competition but also stemmed from a reduction in claims from the previous year, according to the Federation Francaise des Societes d'Assurances.
The federation estimated that overall commercial premiums grew 2.8%, including 8.1% growth for civil liability premiums. Premium volume was flat for automobile and rose 1.6% for ...